Monday Madness: G20 FinMins Set 2-Week Deadline [View article]
Well it's a simplification, of course. The point is that you increase the money supply by 50% and if we simply go back to the same level of consumption we had 3 years ago - then GDP expands by 50%. We're not consuming 33% less, there's a multiplying effect in between 0% and 50% and all sorts of numbers you can plug into a formula after spending a few years in grad school studying monetary theory but, the short story is - more money moving slower = steady GDP. More money moving faster = rising GDP. Rising GDP not keeping up with real gains in production/consumption = inflation. There's at least $35,000 worth of grad school for you!
Fully 'Fixed' Friday: Extend and Pretend Edition [View article]
Although Jefferson didn't actually say all of it, this quote attributed to him sums it up very nicely and has certainly been true for hundreds of years because the game never changes:
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson, (Attributed) 3rd president of US (1743 - 1826)
Thursday Thump - The Bernanke Bottom [View article]
All the time. I put these articles up with picks regularly and it's not my fault if they happen to work out more often than not. Feel free to go back a month, two months, whatever - unless you think SA is putting these up after the fact - this is just what I say that day so I'm either right or wrong but I get paid to be right.
Here's a few comments from today's Member Chat (sorry, no complaints today):
jromeha (premium) - June 24th, 2011 at 3:54 pm
Phil- took a 15 min break and caught your /yg play. Made a quick $100…. You just paid for a few swim lessons for my soon to be 3 y/o daughter or a nice meal out this weekend. Thank you, You rock, and Have a good weekend…
stjeanluc (premium) - June 24th, 2011 at 3:51 pm
Sold 23 Calls for 0.95 (9:35), covered with around $0.30 profit between 11:00 and 13:00. Sold 24 Put for 1.20 now around 1.50 I am not sure we should rush to sell another call yet, but Phil can tell me otherwise! Lapper and I sold a 23 straddle instead. And we are riding it into next week!
rustle123 (premium) - June 24th, 2011 at 2:34 pm
I cashed in this morning and haven’t had a trade since. After yesterday, today is a pretty dull market. Back in mostly cash and just rather stay flat til Monday. Like you said Phil, sometimes it’s just better to walk away for awhile. Thanks for another great week!
dday97 (premium) - June 24th, 2011 at 12:24 pm
Out of today’s USO puts. Up .30. Need another trade like that to pay these septic guys
stjeanluc (premium) - June 24th, 2011 at 11:45 am
FAS Income – If you day trade and have not cashed in the 23 calls, now would be a good time as they can bring about $0.32 from an entry at $0.95.
rainman (premium) - June 24th, 2011 at 11:22 am
Phil / FCX — I took a position in this one after they split and since febuary, have collected $14.22/share, almost 2%/week Another benefit of scaling in, is that if you REALLY want to own more shares, you can sell agressive puts and smile when you don’t get the shares!
rustle123 (premium) - June 24th, 2011 at 10:49 am
out of my rebuy of DIA puts yesterday. Rather take the quick profits then risk another whiplash "Greece is Fixed" comeback.
Thursday Thump - The Bernanke Bottom [View article]
I don't post here regularly anymore. We're at philstockworld.com every day - some days the posts are free to the public and SA picks them up once in a while.
Thursday Thump - The Bernanke Bottom [View article]
To bait oil futures withal: if it will feed nothing else, it will feed our revenge. They hath disgraced us, and hindered us half a dollar per gallon; laughed at our losses, mocked our gains, scorned our nation, thwarted our attempts to economize, cooled solar subsidies, heated their yachts and summer homes; and what's their reason?
I am a Consumer. Hath not a Consumer eyes? Hath not a Consumer hands, organs, dimensions, senses, affections, passions? Fed with the same food, hurt with the same weapons, subject to the same diseases, healed by the same means, warmed and cooled by the same winter and summer utility bills, as a Speculator is?
If you prick us, do we not need medical care? If you lay us off, do we not need unemployment? If you retire us, do we not eventually die? And if you overcharge us for commodities, shall we not seek Revenge? If we are like you in the rest, we will resemble you in that.
If a Consumer wrongs a Speculator, what is his humility? Revenge! If a Speculator wrongs a Consumer, what should his sufferance be by speculative example? Why, revenge. The villainy you teach us, we shall execute, and it shall go hard but I will better the instruction.
Thursday Thump - The Bernanke Bottom [View article]
As to the bear trap - yes, we took money and ran at $90 on oil shorts too. Now we'll see if they can pump it back up to a level that let's us short it again.
Hmm, not sure how to respond to that as I do have a serious moral issue with all this but it's my "job" to figure out how to make money, no matter what is happening. It's also my job to point out what's really going on in the markets, where I do get to exercise my moral outrage at the system that, yes, I do participate in.
Do we compare this to a situation where the whole town is looting the Best Buy and I have to decide whether to go inside the store and buy a TV for $500 or stand outside and buy the same TV for $50 from one of the looters? Do I have the right to criticize the looters while benefiting from the looting?
Or am I simply taking advantage of an obvious catastrophe like the Baltimore Orioles and simply making sensible bets that they are likely to lose, which I can profit from without "hurting" the team and I do still have the right of any fan to criticize the incompetence or am I not allowed to because I bet against them?
Governments are like that too. Can you criticize Obama while earning a living in America? Can you want the system to change from the inside while still playing by the current system's rule or do you make a more effective statement by refusing to participate and attempting to tear it down from without?
I don't think you have to "agree" with the bulls in order to bet that the bull will run towards red but I certainly see your point but I think it would be a lot more fake to pretend I agreed with bullish investors, just because we know how to take advantage of their trading patterns...
I tell you what BS, since anyone who read the last post where you turned out to be full of it yourself in the plays you claim I missed, why don't you try to explain how the AMZN or BIDU play are down big - I'm dying to see what line of BS you will need to come up with on those week-old butterfly spreads.
As to AXP, the position was the Jan $45 calls with the Aug $40 calls sold against. It's called a bear call spread and AXP is supposed to go down, that's how we make the money. Perhaps first get a grasp of the basics before criticizing...
MMark - Those are good points but you do understand that that was a quote from the Conde Naste article, not a product of my own research. The article had many nasty points about XOM so I suggest you read it in its entirety and comment on their site. If you have and article with substantiated links, I would be happy to link to it. If you read me often you know that one thing I always tell people is "don't believe what you read" whether from the right or the left. Anyway, thanks for that, I do enjoy hearing contrary views!
My main issue with XOM is they do spend more on stock buybacks, bonuses and dividends than they do on E&P. I don't think that's good for America or XOM in the long run.
LOL Win, you are getting your wish on weakness. We're scooping up GOOG at $480 today and the same old financials but overall, this is a nasty little drop. Maybe for show ahead of a turn around on Paulson at 2:30, we'll see.
As indicated in the link, I'm going by usually reliable Briefing.com list but Kskee is right, nothing confirming on SIRI web site and last earnings weren't until 2/26 so May 27 does make sense.
Monday Madness: G20 FinMins Set 2-Week Deadline [View article]
Spark notes is good for this stuff: http://bit.ly/prNww9
Holy Cow Thursday: Give Us a Break! [View article]
www.zerohedge.com/site...
Holy Cow Thursday: Give Us a Break! [View article]
www.philstockworld.com.../
Back to cashy and cautious once this rally peters out.
Fully 'Fixed' Friday: Extend and Pretend Edition [View article]
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)
Thursday Thump - The Bernanke Bottom [View article]
Here's a few comments from today's Member Chat (sorry, no complaints today):
jromeha (premium) - June 24th, 2011 at 3:54 pm
Phil- took a 15 min break and caught your /yg play. Made a quick $100…. You just paid for a few swim lessons for my soon to be 3 y/o daughter or a nice meal out this weekend. Thank you, You rock, and Have a good weekend…
stjeanluc (premium) - June 24th, 2011 at 3:51 pm
Sold 23 Calls for 0.95 (9:35), covered with around $0.30 profit between 11:00 and 13:00.
Sold 24 Put for 1.20 now around 1.50
I am not sure we should rush to sell another call yet, but Phil can tell me otherwise!
Lapper and I sold a 23 straddle instead. And we are riding it into next week!
rustle123 (premium) - June 24th, 2011 at 2:34 pm
I cashed in this morning and haven’t had a trade since. After yesterday, today is a pretty dull market. Back in mostly cash and just rather stay flat til Monday. Like you said Phil, sometimes it’s just better to walk away for awhile. Thanks for another great week!
dday97 (premium) - June 24th, 2011 at 12:24 pm
Out of today’s USO puts. Up .30. Need another trade like that to pay these septic guys
stjeanluc (premium) - June 24th, 2011 at 11:45 am
FAS Income – If you day trade and have not cashed in the 23 calls, now would be a good time as they can bring about $0.32 from an entry at $0.95.
rainman (premium) - June 24th, 2011 at 11:22 am
Phil / FCX — I took a position in this one after they split and since febuary, have collected $14.22/share, almost 2%/week Another benefit of scaling in, is that if you REALLY want to own more shares, you can sell agressive puts and smile when you don’t get the shares!
rustle123 (premium) - June 24th, 2011 at 10:49 am
out of my rebuy of DIA puts yesterday. Rather take the quick profits then risk another whiplash "Greece is Fixed" comeback.
Thursday Thump - The Bernanke Bottom [View article]
Thursday Thump - The Bernanke Bottom [View article]
it will feed our revenge. They hath disgraced us, and
hindered us half a dollar per gallon; laughed at our losses,
mocked our gains, scorned our nation, thwarted our attempts to economize, cooled solar subsidies, heated their yachts and summer homes; and what's their reason?
I am a Consumer. Hath not a Consumer eyes? Hath not a Consumer hands, organs, dimensions, senses, affections, passions? Fed with the same food, hurt with the same weapons, subject to the same diseases, healed by the same means,
warmed and cooled by the same winter and summer utility bills, as
a Speculator is?
If you prick us, do we not need medical care? If you lay us off, do we not need unemployment? If you retire us, do we not eventually die? And if you overcharge us for commodities, shall we not seek Revenge? If we are like you in the rest, we will resemble you in that.
If a Consumer wrongs a Speculator, what is his humility? Revenge! If a Speculator wrongs a Consumer, what should his sufferance be by speculative example? Why, revenge. The villainy you teach us, we shall execute, and it shall go hard but I will better the instruction.
Thursday Thump - The Bernanke Bottom [View article]
Thursday Thump - The Bernanke Bottom [View article]
Wild Weekly Wrap Up: Cash Is King [View article]
Thanks, Jim!
Wild Weekly Wrap Up: Cash Is King [View article]
Do we compare this to a situation where the whole town is looting the Best Buy and I have to decide whether to go inside the store and buy a TV for $500 or stand outside and buy the same TV for $50 from one of the looters? Do I have the right to criticize the looters while benefiting from the looting?
Or am I simply taking advantage of an obvious catastrophe like the Baltimore Orioles and simply making sensible bets that they are likely to lose, which I can profit from without "hurting" the team and I do still have the right of any fan to criticize the incompetence or am I not allowed to because I bet against them?
Governments are like that too. Can you criticize Obama while earning a living in America? Can you want the system to change from the inside while still playing by the current system's rule or do you make a more effective statement by refusing to participate and attempting to tear it down from without?
I don't think you have to "agree" with the bulls in order to bet that the bull will run towards red but I certainly see your point but I think it would be a lot more fake to pretend I agreed with bullish investors, just because we know how to take advantage of their trading patterns...
Great topic for debate!
Options Trader: Monday Outlook [View article]
As to AXP, the position was the Jan $45 calls with the Aug $40 calls sold against. It's called a bear call spread and AXP is supposed to go down, that's how we make the money. Perhaps first get a grasp of the basics before criticizing...
Options Trader: Monday Outlook [View article]
My main issue with XOM is they do spend more on stock buybacks, bonuses and dividends than they do on E&P. I don't think that's good for America or XOM in the long run.
LOL Win, you are getting your wish on weakness. We're scooping up GOOG at $480 today and the same old financials but overall, this is a nasty little drop. Maybe for show ahead of a turn around on Paulson at 2:30, we'll see.
Options Trader: Monday Outlook [View article]